The share price of Beximco Pharmaceuticals Limited fell by 3.01% on Monday, a day after the Indian government imposed a ban on the export of Oxford's coronavirus vaccine.
In the first trading hour at the Dhaka Stock Exchange (DSE) on the day, the company saw its share price come down by 6.35% to Tk196.20 each.
At the end of the trading session on the DSE floor, its share price turned around from the big fall and the closing price stood at Tk203.20.
During the session, Beximco Pharma secured the second position in the turnover list with a value of Tk205.96 crore.
However, another company, Beximco Limited, which holds Beximco Pharma's shares, witnessed its share price rise by 4.78% to Tk65.70 on the day.
Senior officials of several brokerage firms said the share price of Beximco Pharma rose in the last several months on vaccine import news. But the sudden ban on vaccine export by India has caused the company's share price to drop over investors selling pressure.
Earlier, on 5 November 2020, Bangladesh's health ministry signed a tripartite memorandum of understanding (MoU) with the Serum Institute of India and Beximco Pharmaceuticals Ltd to import the vaccine under development by Oxford/AstraZeneca.
As per the deal, Serum was supposed to supply three crore doses of the vaccine, 50 lakh per month, in the initial six months of the first phase.
After this agreement, Beximco Pharma's share price rose by 75% until 3 January this year.
The company is listed on the London Stock Exchange as well. There its share price rose by 83% to GBX102.50 (in stocks, GBX used to indicate that a price is quoted in terms of pence instead of British pounds) on vaccine news.